Define: Gift In Contemplation Of Death

Gift In Contemplation Of Death
Gift In Contemplation Of Death
Quick Summary of Gift In Contemplation Of Death

A gift in contemplation of death, also known as a causa mortis gift, is a legal term referring to a gift of personal property made by a donor in anticipation of their imminent death. Unlike gifts made through a will (testamentary gifts), causa mortis gifts are made with the expectation that the donor will not recover from their illness or condition. To be valid, a gift in contemplation of death must meet certain requirements, including the donor’s intent to make a gift in anticipation of death, delivery of the gift to the recipient, and acceptance of the gift by the recipient. These gifts are revocable, meaning the donor can revoke the gift if they recover from the illness or condition that prompted the gift. However, if the donor does pass away as anticipated, the gift becomes irrevocable and takes effect immediately, bypassing the donor’s estate and probate process. Causa mortis gifts are subject to legal scrutiny to ensure they comply with applicable laws and are not the result of fraud, duress, or undue influence.

What is the dictionary definition of Gift In Contemplation Of Death?
Dictionary Definition of Gift In Contemplation Of Death
n. (called a gift causa mortis by lawyers showing off their Latin), a gift of personal property (not real estate) by a person expecting to die soon due to ill health or age. Federal tax law will recognize this reason for a gift if the giver dies within three years of the gift. Treating the gift as made in contemplation of death has the benefit of including the gift in the value of the estate, rather than making the gift subject to a separate federal gift tax charged the giver. If the giver gets over an apparently mortal illness, the gift is treated like any other gift for tax purposes.
Related Phrases
No related content found.
Disclaimer

This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.

This glossary post was last updated: 29th March 2024.

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

  • Page URL:https://dlssolicitors.com/define/gift-in-contemplation-of-death/
  • Modern Language Association (MLA):Gift In Contemplation Of Death. dlssolicitors.com. DLS Solicitors. May 09 2024 https://dlssolicitors.com/define/gift-in-contemplation-of-death/.
  • Chicago Manual of Style (CMS):Gift In Contemplation Of Death. dlssolicitors.com. DLS Solicitors. https://dlssolicitors.com/define/gift-in-contemplation-of-death/ (accessed: May 09 2024).
  • American Psychological Association (APA):Gift In Contemplation Of Death. dlssolicitors.com. Retrieved May 09 2024, from dlssolicitors.com website: https://dlssolicitors.com/define/gift-in-contemplation-of-death/
Avatar of DLS Solicitors
DLS Solicitors : Divorce Solicitors

Our team of professionals are based in Alderley Edge, Cheshire. We offer clear, specialist legal advice in all matters relating to Family Law, Wills, Trusts, Probate, Lasting Power of Attorney and Court of Protection.

All author posts